JK Cement on Saturday, November 1, reported a consolidated profit after tax (PAT) of Rs 159 crore for the quarter ended September 30, 2025 (Q2 FY26), up from Rs 136 crore in the same period last year.
Despite a decent performance in Q2, global brokerage firm Citi reduced the JK Cement stock’s target price to Rs 7,275, from an earlier Rs 7,600.
Revenue from operations grew 18% year-on-year to Rs 3,019 crore, compared with Rs 2,560 crore in Q2 FY25, driven largely by volume gains.
Total expenses rose to Rs 2,827 crore from Rs 2,545 crore a year earlier, reflecting higher power, fuel, and freight costs as production expanded.
On a sequential basis, however, the company’s revenue fell 10% from Rs 3,353 crore in the June quarter, while PAT declined from Rs 324 crore due to seasonal weakness and elevated input costs.During the quarter, JK Cement completed the amalgamation of Toshali Cements Pvt. Ltd. with the parent entity following approval from the National Company Law Tribunal. The company also expanded capacity at its Prayagraj grinding unit from 2 million tonnes per annum (MTPA) to 3 MTPA through internal debottlenecking.
Stock performance and technicals
On Friday,JK Cement shares closed 0.5% lower at Rs 6,214.50 on the BSE. Despite the recent dip, the stock has gained 35.6% so far in 2025 and is up nearly 44% over the past year.
From a technical standpoint, the stock is currently trading below six of its eight key simple moving averages (SMA), the 5-day, 10-day, 20-day, 30-day, 50-day and 100-day SMAs, while it remains above its 150-day and 200-day SMAs.
The Relative Strength Index (RSI) stands at 37.9, suggesting weak momentum but not yet oversold territory. The Moving Average Convergence Divergence (MACD) is at -87.4, below both the center and signal lines, reinforcing the ongoing bearish trend.
Brokerage view
Global brokerage Citi maintained its ‘Buy’ rating on JK Cement with a target price of Rs 7,275 (earlier Rs 7,600). The brokerage said “higher-than-expected costs and lower realisations weighed on Q2 performance.”
However, Citi added that it remains constructive on the stock, noting “strong medium-term growth visibility despite near-term margin pressures.”
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